28 November 2014

PDQ ATS introduces AlgoSuite for lone traders and retail investors

18 October 2012  |  1013 views  |  0 Source: FDQ ATS

PDQ ATS today introduced AlgoSuite, a revolutionary suite of algorithmic order types designed for the manual trader.

For the first time in equity trading, manual traders can receive the benefit of co-located algorithmic execution for their orders without any requisite infrastructure or networking costs. These conditional order types are seamlessly deployed, and can be sent from any front-end connected to the PDQ ATS.

"PDQ's AlgoSuite is a quantum leap in technology and access for today's manual trader," said Ed O'Malley, President, PDQ ATS. "By using these algorithmic order types they have the ability to significantly increase their profit margin, as access to co-location services provide better fills and a higher likelihood of accessing rebates."

AlgoSuite consists of three specific order types:

AlgoWork
AlgoStop
AlgoMid

PDQ's flagship algorithmic order type AlgoWork, is designed to attain the best price at the National Best Bid Offer (NBBO). AlgoWork starts by posting the order on the bid or offer and then uses algorithmic intelligence to identify the ideal time to aggressively cross the market. The manual trader can now cover positions in a cost effective manner, capitalizing on rebates when possible, and removing liquidity when necessary. AlgoWork can be launched seamlessly from any front-end globally and will then employ exchange co-located market data and executions.

AlgoStop is designed to be placed as an intelligent stop loss order, covering positions in a manner that will prevent stop losses from being executed until necessary, while AlgoMid maximizes queue position on midpoint orders by leveraging low latency infrastructure to place orders at the earliest possible opportunity.

Jason Wallach, Executive Vice President of PDQ ATS stated, "As we've shown with PDQ ATS and its industry first, true high speed equity trading auction, at PDQ we strive to be at the forefront of innovation by developing next generation trading technologies. The functionality AlgoSuite provides has been used primarily by high-speed, electronic traders through their proprietoprietary trading systems. With AlgoSuite and its conditional order types, we are delivering automation to the manual trader, thus adding yet another efficiency to the marketplace."

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